CBRE closed the sale of a three-property Atlanta portfolio on behalf of Bridge Investment Group. Kevin Geiger and Shea Campbell of CBRE’s Southeast Multifamily Group facilitated the sale to Robbins Electra and Electra America. The portfolio includes Marbella Place, formerly known as Cameron Landing; The Parke at Oakley; and Belle Vista, formerly known as Ashley Vista.

“The Atlanta job machine continues to churn which is helping to fuel continued rent growth,” Geiger, vice chairman, CBRE, told Multi-Housing News. “For instance, last year 90,300 jobs were created in metro Atlanta. Consequently, demand for housing is up and it is not unusual to see 5 percent annualized organic rent growth in the suburbs—that is driving interest from investors. Few markets across the country can boast occupancy and solid rent growth this late in the cycle so we are fortunate to live and work in Atlanta. All three of the Bridge assets were in the suburbs with plenty of opportunity to add value through renovation.”